'Elements 2008' gets underway in the city

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Mumbai, Jan 15 (UNI) 'Elements 2008', a 2-day business summit, aiming to develop an eco-system of entrepreneurs, got underway in the Metropolis today.

Over 1,000 vendors and entrepreneurs are attending the summit, which will provide unique insights and partnership opportunities with the Vedanta Group. International experts and and local industry associations will exchange information at the Summit.

"There is tremendous growth and opportunity in India, not only for Vedanta but for many of our vendor partners. We believe that whatever Vedanta does must ultimately benefit India. We are first-generation entrepreneurs and it is our belief that our success and our growth plans have the potential to inspire and spawn an entire eco-system of entrepreneurs." Mr. Anil Agarwal, Chairman, Vedanta Resources plc, told UNI here.

"As we invest in setting up bricks and mortar to support our growth, hundreds of ancillary industries can be created. By developing an entire eco-system of entrepreneurs, many of them small and medium enterprises, we believe that we can promote growth and development", Agarwal said.

Vedanta has planned to invest over US$ 12.5 billion by 2012 to power its growth momentum with clear focus on metals&mining and power generation. It aims to increase production capacity of each of its metals Aluminium, Copper, Zinc&Lead to one million tonnes per annum and over 20 million tonnes of Iron Ore. Added to this, it plans to increase commercial power generation capacity close to 10,000 MW in the next few years, he said.

Vedanta has over 5,000 vendors and given its expansion plans, it expects to strengthen its relationship with its existing partners, as well as develop 1000 additional business partnerships with potential entrepreneurs, he said.

Currently, Vedanta buys goods and services valued at US 3 billion.

At Elements 2008, entrepreneurs will learn about business opportunities with Vedanta in the areas of Logistics, Mining and exploration, Commodities and materials, Projects and Technology.

Participating Vedanta Resources Companies at Elements 2008 include Sterlite Industries (India) Ltd, Sesa Goa Ltd, Vedanta Aluminum Ltd, Madras Aluminium Co Ltd, Hindustan Zinc Ltd, Sterlite Energy Ltd, Konkola Copper Mines and Bharat Aluminium Co Ltd.

UNI AR OBB SM1706

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